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How to prevent a recession we don’t have to have

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How to prevent a recession we don’t have to have

Back in November 1990, with the Australian economy deep in the doldrums, Treasurer Paul Keating uttered his now famous remark that this was “a recession that Australia had to have”.  It was, remarkably, Australia’s last recession. Today, with our economy again looking into the abyss, I believe there is a simple measure the government could take to prevent the next one.

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Roger is the Founder and Chief Investment Officer of Montgomery Investment Management. Roger brings more than two decades of investment and financial market experience, knowledge and relationships to bear in his role as Chief Investment Officer. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.

This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.

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3 Comments

  1. Carlos Cobelas
    :

    correction, 47%, plus budget repair levy, flood levy or whatever other levies they decide to gouge.

  2. Carlos Cobelas
    :

    a tax cut for people who pay little or no tax ?
    but not for those of us paying an outrageous 49% ( including medicare levy ) ?
    hmmm…………….

  3. What confuses me is as 3% of the workforce and highly remunerated jobs in construction cease how do these people afford mortgages and thus keep pushing real estate higher? Particularly as boomers and others cut spending in the economy having the spiral and contagion as you suggest. Are you sure that lower rates keep pushing prices up forever?

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